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The 2021, the Gimmelike survey showed that about 10% of the Italian respondents already owned cryptocurrencies and about 40% more were interested, but weren't sure how to go about purchasing crypto.

Buying Bitcoin in Italy is easy thanks to the European Union's friendly attitude towards the decentralized asset.

Using an Italian bank, you can buy Bitcoin from any of the mainstream exchanges, based in Europe and abroad, using Euros.

There are several exchanges offering Bitcoin in Italy, allowing you to easily select one based on your requirements and preferences using our list outlined above. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.

Additionally, Bitcoin buyers need to keep in mind that certain exchanges might require you to get a wallet of your own before being able to buy the digital currency. Even if there is no requirement, it is recommended to have a wallet of your own for security reasons (preferably a hardware wallet). If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.

First, you'll need a wallet. When you buy Bitcoin with a popular exchange, you'll have a wallet on the exchange. However, your coins are best kept on cold storage, safe from theft.

We recommend the Ledger Nano X, one of the safest and most popular wallets on the market.

Next, sign up with one of the above exchanges, add a payment method, and start trading Bitcoin.

Another way to buy Bitcoins in Italy is through automated teller machines (ATMs). These ATMs allow users to instantly purchase the cryptocurrency using cash, and most of them only require a telephone number for verification, so long as you aren’t buying a lot of Bitcoin, they are more private than exchanges.

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There are three main types of Bitcoin wallet and all of them are supported in Italy:

• Software (desktop or mobile - iOS and Android wallets
• Hardware wallet
• Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.

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Ethereum (ETH) has established itself as the second most popular digital currency, after Bitcoin. Its smart contract features allow unique apps to be built on top of its platform. Below you will find exchanges in Italy that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.

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Thanks to Tesla founder Elon Musk, Dogecoin (DOGE)—a coin that started as a meme about the shiba inu dog—has recently become a popular digital currency. Below you can find crypto exchanges in Canada that allow you purchase Dogecoin.

About Dogecoin: Dogecoin has become one of the most famous altcoin blockchains. Dogecoin was founded by Jackson Palmer and Billy Markus on December 6, 2013. Thanks to its popularity on Robinhood, it hit an all time high of $0.42 on April 20. Doge started the year at under $0.01 USD. It is an open source blockchain, meaning its code is publicly available for anyone to see.

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Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in Italy that allow you to buy litecoin and other crypto assets for good exchange rates.

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BitGrail Hack

In July of 2017, Italian crypto exchange BitGrail had 2.5 million Nano coins stolen from its wallets. It later came to light that the exchange was storing all client funds in a hot wallet. The exchanges founder, Francesco Firano, apparently did not learn his lesson, as another 7.5 million Nano were stolen the following October.

In December, Firano moved the coins from a hot wallet to a cold wallet and would intermittently suspend all exchange activity, including withdrawals.

It was then later made evident that mere days before these hacks were announced in February of 2019 (months after they occured), Firano moved 230 Bitcoins from the BitGrail exchange wallet into his personal account on another cryptocurrency exchange.

Finally, as a result of US law firm's suits against both Nano and BitGrail, it came to light that Nano marketing teams had directed uses to deposit coins on BitGrail.

Firano was eventually forced by the courts to file for bankruptcy and hand over all exchange and personal assets to a trust to pay back BitGrail customers as much as possible.

Altsbit Hack

In February of 2020, a tiny Italian exchange named Altsbit had "almost all" of its customer coins stolen in a hack. The grand total of the value of the coins comes out to US $27,000. Despite the tiny amount of money stolen, it was cold comfort to anyone who had their coins deposited on the exchange and acts a cautionary tale for all traders to stick to large exchanges with deep pockets and a dedicated security team whenever possible.

Avalon Life Scams

In December of 2018, the Italian Commissione Nazionale per le Società e la Borsa (CONSOB) - bascially the equivalent of the Securities and Exchange Commission - suspended the operations of a company called Avalon Life. In particular, the two businesses that Avalon Life was running were called Bitsurge token and Green Energy Certificates.

In both cases, Avalon Life was guaranteeing returns to investors in these projects (returns that were also unrelastic, ranging from 6 to 13%.). In the case of Green Energy Certificates, it was especially dubious, as the company marketed the certificates as a way to buy parts of "the rainforest" on the blockchain.

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While most people in Italy choose to buy Bitcoin from one of the trusted exchanges listed above, tech savy Bitcoin enthusiasts will often mine their Bitcoin instead.

All of the Bitcoin in circulation today was created thanks to miners, who use powerful mining hardware to verify the network and earn Bitcoin as their reward.

The main factors contributing to mining profitability are electricity cost and the price of Bitcoin. Each time a miner successfully validates a block, they're given a block reward (which is halving soon, by the way.)

If the cost of electricity used to power your mining hardware is lower than the price of Bitcoin, you're profitable - otherwise, you're losing money.

Bitcoin mining is not what it used to be, and has come far from its golden age. Advanced mining hardware is required to mine Bitcoin, and is usually only profitable in a large-scale mining operation in a country where electricity is cheap.

Using a simple Bitcoin mining profitability calculator is a great way to determine the mining profitability in your area. Enter the hashing power of your mining hardware and the cost of electricity where you live to figure your mining profitability.

In Italy, the price of electricity per kWh is EUR 0.24, which is approximately double that of the United States. Even with a powerful ASIC miner like the Antminer S19 Pro, you'll lose thousands in electricity cost. $6,461.66, to be exact!

Mining Bitcoin in Italy is far from profitable, and should only be done as a hobby or for fun, without the intention of turning a profit. That means if you're interested in acquiring Bitcoin, use one of the exchanges listed above, like Coinbase or Coinmama.

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Does Coinbase work in Italy?

Citizens of Italy can convert, buy, and sell cryptocurrencies with fiat. Supported payment methods are:

• Bank Deposit
• PayPal
• 3D Secure Credit Card
• Debit Card
• Credit Card

Where Can I Find a Bitcoin ATM in Italy?

There are many Bitcoin ATMs all over Italy, so you are likely never too far away from one if you need to pick up some Bitcoin quickly with cash.

You can use our Bitcoin ATM finder tool to find the one nearest you.

What is the price of Bitcoin in Italy?

Bitcoin prices are changing every second.

The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.

How do I cash out of Bitcoin in Italy?

Any exchange with a Euro trading pair will allow you to sell your Bitcoin for fiat currency. Bitpanda has EUR trading pairs for many popular coins.

Another way to sell Bitcoins in Italy is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private.

LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.

You could also use a service like eGifter to sell your Bitcoin for gift cards.